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: the president will be nominating the chief of staff jack lew as next treasury secretary. should we be gearing up for another confirmation battle? rich edson at the white house with the latest on this story. what do you think? rich: we very well could be. he refuses to address entitlements in spending. he is the typical big government liberal and a troubled person to deal with in his capacity as chief of staff for the white house but democrats point out he knows budgets. he has been a budget director for the clinton administration, obama administration and they say that is why they picked him. >> in the past quarter of a century jack lew has been an integral part of some of the most important budgetary financial and fiscal agreements, bipartisan agreement in washington. >> "rolling stone magazine" will have to come to the senate and tell what his thoughts are about the spending and how it plans to address it. rich: it is u up to send them to see this another proxy fight to add to the administration on their views about that deficit and spending. back to you. melissa: i have to wonder how his sena
treasury secretary. jack lew is a veteran of capitol hill and of more than one big major budget negotiations which is exactly what the president is facing right now. he's somebody with a low key demeanor who gets along well with others. his confirmation is expected to be not too difficult. what he doesn't provide is a strong business background or wall street ties, although he did work for citigroup for a while and he doesn't have the experience in financial regulation that tim geithner brought to the job having head of the federal reserve bank of new york during the financial crisis. but jack lew is expected to be announced today. the pecked speculation about his replacement as white house chief of staff has centered in the last 24 hours around dennis mcdonna. sources tell me that dennis mcdonough is the chief candidate. ron biden has already been a contender. wool see whether the president pairs the announcement of a new chief of staff with jack lew's appointment today. >> so jack lew seems to have the nomination locked up. danny krugman is expected to be looked go ahead at fo
'm chortling here because of your outrage over the $1 trillion coin matched with your outrage over jack lew, i can't figure out which is mor amusing. should we put that in the democratic party platform? >> it already is, that's what's amusing. >> very good, very good. >> let's talk about jack lew for a second. normally this position should go to somebody from the finance world. i think that, unfortunately, that's very difficult to do that because the finance world had a lot to do with the crash in 2008. but normally those are the best people for this job. for treasury. and if you look at george w. bush, his first two people were quite able, especially paul o'neill, but they did not, were not able to do the treasury the way paulson did, which helped us get out of this dreadful problem that we had that started in 2008. so it is good to have a finance person. on the other hand, i believe you're wrong about omb. jack lew's been a terrific director of omb and most importantly, he absolutely does have a lot of foreign policy experience. when you're the chief of staff to the president of the united s
it official and nominates jack lew for treasury secretary. but, he received a quote obscene million dollar bonus as his boss obama would put it while working at citibank which got bailed out to the tune of $45 billion. is that part of the jack lew story that's going to make him toxic in his confirmation hearings? >>> and we go out to san diego where the family of the late nfl star junior learned he had a brain disease when he committed suicide. did football kill him? >>> and back to hollywood, my favorite movie of the year "lincoln" gets the lion share of oscar nominations. this is a fabulous film about government dysfunction and how abe lincoln solved it then. can we learn something about it now? the "kudlow report" begins right now. >>> first up this evening, call it the d.c. gun show. all the major gun players meeting with vice president joe biden and attorney general eric holder. cnbc's own eamon javers joins us now with all the details. good evening, eamon. >> good evening, larry. well, even as the vice president was holding a meeting in the white house complex today about gun control
at this, if jack lew is confirmed as treasury secretary, this will be the signature you see on the dollar bill. looks like a printing. "varney & company" is about to begin. joe doesn't know it yet, but he'll wk his way up from busser to waiter to chef before opening a restaurant specializing in fish and me from e great northwest. he'll start investing early, he'll find some good people to help guide him, nd he'll set money aside from his first day of work to his last, which isn't rocket science. it's just common sense. from td ameritrade. nothing. are you stealing our daughter's school supplies and taking them to work? no, i was just looking for my stapler and my... this thing. i save money by using fedex ground and buy my own supplies. that's a great idea. i'm going to go... we got clients in today. [ male announcer ] save on ound shipping at fedex office. >> good morning, "varney & company" viewers, today is thursday, january the 10th. the big story of the day is guns, and just how the president will deal with the very strong calls for action. the public wants something done. how will
is what is "money" tonight. jack lew gets the nod for new treasury secretary. senator jeff sessions is outraged and vowing to block lew's senate confirmation. he will join us to explain why. >>> why this flu epidemic is making our economy sick. experts say we're looking at a possible $10 billion hit on the economy from the flu. that is what we need. details are coming up. >>> how much is an oscar really worth to a movie? the 2013 academy award nominees are out. studios dropped 10 of millions of dollars on their oscar campaigns. a top industry expert is here to crunch the numbers. even when they say it's not, it is always about money. melissa: we start today with another school shooting. it happened at taft union high school in california. one student was shot. the sheriff says they have one suspect in custody. makes the meetings on gun control today, on capitol hill even more urgent. the fact that vice president joe biden met with the nra and other gun rights activists on possible new federal regulation. at the same time attorney general eric holder was talking to retailers about so
in washington. jack lew officially nominated as treasury chief. lew is known for his role in the being acrimonious talks in 2011. what could it mean this time. >> tiffany disappoints again with weaker holiday sales. there was weakness in the americas, strength in asia. so how much of a read through to the rest of retail is this earnings report? >>> nokia shares soaring this morning after a bullish outlook for the first quarter. >>> and herbal life's big day to defend itself against bill ackman's damning allegations. we'll have the latest and the ceo join us later in the show. >>> well, today president obama is set to nominate white house chief of staff jack lew as his next treasury secretary. succeeding tim geithner. lew has been budget director in both the obama and clinton administrations. he will pray a major role of course in negotiations over the debt ceiling and potential spending cuts. the president will make his announcement at 1:30 eastern. it's an event in the east room at the white house. i have to say off the bat just because he's a forest hills guy like me that i, you know
in washington. and that's a huge wildcard. lori: quick follow-up. jack lew, does he change things? obviously, we know he's in favor of big government, big spending, probably face a big fight for his confirmation. jack, do you think that changes anything for your markets outlook? >> it doesn't for me. i think the biggest change we're going to see right away is just new signatures on our currency. beyond that, you know, the treasury has at least under geithner in the second term here has really sort of backed away from center stage giving, handing the baton mostly to the fed. you know, whether lew takes a more activist role, he certainly is an obama loyalist, remains to be seen. i will say, you know, there's probably a little more contention in washington surrounding jack lew than there is, perhaps, on wall street right now. ashley: all right, jack. let me bring you in -- david, i'm sorry. jack, you had, we've heard from you. let's bring in david on where investors can make money in this market. what do can you like spa why? -- and why? >> sure. well, i'll make a comment on commodities. some peopl
obama making another cabinet pick. the president will nominate white house chief of staff jack lew to replace timothy geithner as treasury secretary. tell us about jack lew. >> jack lew is the chief of staff known as a tough negotiator, someone who the president has complete trust in. in fact, when he was announced as the white house chief of staff the president talked about the trust that he had in him, talked about how he had taken a part in helping to right the ailing economy. this is also someone who has worked in a couple of administrations as the budget chief in this administration and the clinton administration and helped to cut the 1997 balanced budget deal. so the white house sees him as someone with a lot of experience, ready to take on some of the big challenges over the treasury department as we are facing the so-called mini cliffs, the big one, the debt ceiling, something he will have to deal with right away. >> when is the formal announcement of the nomination expected and another partisan fight down the road? >> very well could be. we have been trying to nail it down
as jack lew is somebody who served as chief of staff. he was budget director before that. he served in hillary clinton's state department. he does not have a deep background and ties to wall street and business. he's a creature of congress, made his name in washington working for tip o'neal, the house speaker. very hard working, very key, very bright. republicans found him a difficult negotiators in some of the budget talks over the last couple of years, but i would expect, andrew, that he's going to be confirmed pretty handily even though he'll have difficult questions in his confirmation hearing. >> john, how disappointed -- and perhaps now, but it appears that the business community seems disappointed, if you read "the wall street journal" editorial page today. there's a sense of disappointment that the president didn't pick somebody from the business community, somebody with more experience in the world of finance private sector as joe would say. >> i understand the disappointment because they want one of theirs. but, you know, president obama wants one of his in that job. when
treasury secretary nominee white house chief of staff jack lew. taking of the treasury as the white house prepares for the major fight with republicans over the debt ceiling. the rumors began swirling that he would get the nomination. we here at "the willis report" took a look at who jack lew is and where he came from. his biography, as we mentioned, was chock full of political experiences from his time on capitol hill to his work with the clinton and obama administrations. what we did not point out was his brief stint at citigroup. not something he often talks about. from 2006-2009 he ran the alternative investment arm. that division made its profits from shorting the housing market , betting against homeowners like me and you. while he was citigroup they took in 45 billion from taxpayers under t.a.r.p. two weeks before he left to join the obama administration he took, bonus. before citigroup payback taxpayers, and it was not too shabby, nearly a million. so more than just a politician and lawyer. he was a banker who took money from taxpayers and that against them in return. that is the
for some solutions and what might work, did you find any encouragement in the nominating of jack lew to this very important post of treasury secretary today? >> he does not remind me of alexander hamilton. >> that's all you're going to say? >> that's all i'm going to say. i'll give him a chance to be alexander hamilton. >> but why not? >>y in secretary of the debt would be to, first of all, talk in english in our problems and secondly to understand that the -- the revenues put nort so far have been all political and rhetorical, and what we want is the stern stuff of a monastery -- a monetary approach. we want a dollar in exchange for something tangible. and that's gold bouillon. we've not had that for the past -- well, since 1971, about 0-odd years, and what we need is at least a discussion about the nature of our monetary problem that really is a fundamental source of our fiscal problem. >> why would that work going back to gold bouillon? >> because there's only so much gold and can only be so many dollars. >> there's a limited amount, a limited supply. >> you don't have to rely on
that jack lew would be the new name and gilet near would be out. it's months of reporting. seems to me the president knew a long time ago jack would be the guy. at the same time, it's surprising he would take on a fight like this with congress with when he has the chuck ha golf course e -- chuck hagel fight as well. it's like he doesn't care what republicans or nip thinks in washington and does what he wants. >> i don't see a fight with jack. he's not popular with republicans, that's true, but the other side focuses the fire on one main target, and other people get less, and i think the fire is going to be devoted to, pointed at chuck as you suggest. i think that jack lew, is not wildly popular among republicans is respected as somebody to used to run the budget office and who spent a lot of time in the career up on capitol hill working as a congressional staffer. he knows the place. he'll be owing in the nomination struggle, not unanimous consent or a love fest, but he'll be fine. cheryl: interesting. we'll continue to get your take on all things drk. thank you. >> sure, happy to be w
dominant position. >>> barack obama officially nominated jack lew to replace timothy geithner overnight. speaking from the east room of the white house, the president made it clear just why he made this move for the post. >> over the past year, i've sought jack's advice on virtually every decision i've made from economic policy to foreign policy. and one reason jack has been so ekive in this town is because he is a low-key guy who prefers to surround himself with policy experts rather than television cameras. and and to hear who has been nominated for obama's cabinet, senator john kerry to replace hillary clinton as secretary of state, jack lew to replace timothy geithner and chuck hagel to as secretary of defense. tinny, good to see you. happy new year. >> happy new year to you, too. >> nice to see you. what do you make of the reshuffle? >> well, they are not surprising choices. there's a lot of discussion about whether obama's second term means changes or continuity. i'd use another key term which is consolidation. i think his cabinet are loyalists and insiders. they'll help move forw
want to bring up the subject of treasury secretary designate, nominee, that would be, jack lew, a lot of fanfare and applause and most likely gets confirmed, that's an opinion. i say, let's start with you, carol, on this one, i say it makes absolutely no difference to president obama's economic policy. which is tax the rich, do not cut spending and ignore the debt. first to you, carol. >> i think that's right. obviously, jack lew has been president obama's right-hand man and one of the reasons put out for his nomination is that he understands the mechanics of budgets. however, if we look back at the budgets over the past, whether it be four years, decade or even further, there hasn't been a balanced budget, so whether he understands the mechanics or not, it's still not solving our problems. as treasury secretary, he's sitting over the irs and the national debt unless we get some meaningful change here, which i do not anticipate, i feel like this nomination's not going to make a whole lot of difference. stuart: carol, i'm very glad you agree with me and sure that kirsten will agree wit
position and knowing he will do well. >> but right on cue, here comes the republican outrage. jack lew must never become the secretary to the president. >> i've got a news flash for republicans. that's called being chief of staff. of course jack lew served the president. of course he's in the inner circle. that was his job. he was chief of staff. but this is now the gop's default reaction. opposed to everything the president does, no matter what it is. joining me now is joan walsh, editor at large of salon.com and former pennsylvania governor ed rendell now an nbc news analyst. thank you both for being here tonight. >> thank you, reverend al. >> governor, is this the best the gop's got? just don't do whatever? is the strategy going to succeed? >> first of all, it's pathetic. the american people understand traditionally, a president gets to the point he thinks the people will best serve him in the country. the only way they should be confirmed is if there's something in their background that's criminal. something in their background that's irresponsible. but jaek lew has been a good public s
. it will be interesting to see how valerie jarrett meshes with jack lew. another story we had had first here on fox business. ashley: aig. >> why did they say no to hank greenberg? there are many reasons why. i'm getting this from inside the company. they were not going to join this lawsuit earlier today. it was, it is so obvious. aig right now is applying to be about is known as a sieve if i firm. ive if i firm. system i financially important firm. systemmally important financial institution they are applying for that. guess who you don't sue. ashley: the federal government. >> this was a nonstarter from the minute they looked eight. should also point out another reason why, they have an ad campaign where they basically talk about how they're thanking the american tax pay fore --. ashley: turning around and suing the taxpayers essentially. >> those two things. systematically important issue made it dead on arrival. why are they taking it up? what they're saying internally and what they told me as we were reporting this out this morning this is perfunctory. hank greenberg is suing federal governmen
out until january 25th in the treasury, giving jack lew to confirm and i guess perfect his signature. let's see what we've learned, what does he leave for jack lew. he got the stress test done. actually, that's not correct there. let's move away from that. what we're talking about here is the -- let me go to my notes. the stimulus was done -- but sustained growth was not. frank dod basel iii was not done. aig also done. what is the geithner model? what is the geithner doctrine? i think you can say like this, overwhelming government force when it's clear it's needed. b in a crisis, spend, regulate and guarantee and do it with conviction. let's talk about one of the things left over from the geithner years, which is going to be the issue of debt and deficit. i think you would say there was some accomplishment when it came to getting some of these deals in place. but ultimately, he probably thought that some of these things would come off and be declining faster than they have. we've learned a lot about the financial crisis. in fact, we're going to be debating the correct government res
's not any one of these appointments you could look at and say well, that didn't make sense. jack lew makes sense at treasury. it made sense to replace peter orszag, gene spurling and then austin goolsby with allen krueger. you have to wonder, can it really be the case that this white house, after four very difficult years in which people are very tired, in which they're very burnt out, in which they've been worn down by endless battles with the republicans, and in which the sort of natural dynamics of group thinking in a tightly knit administration have taken over, can it really be the case if they can benefit from bringing in new people with new voices and new experiences and a fresh perspective? a lot of people i talk to, some of them former members of the administration, think at this point that it is a big problem, that at this point the president needs to get out of his comfort zone in some of these appointments particularly on the economics side and bring in folks with a new perspective. yet that's balanced by the fact that they don't think jack lew is a bad guy or going to be a bad
. ♪ >>> president obama will nominate his chief of staff over at the white house, jack lew, to be the next treasury secretary. >> it's going to be his signature, right, on the bottom of all our currency. it will look something like this. >> that -- that's your signature? or are you just testing to see if the pen works? hey, lew, here's a tip. stop signing all your checks on the teacup ride at disney world. the only way that you're allowed to have that as your signature is if your name is boing! >> he does have a funny signature. welcome back to "morning joe." richard wolffe and donny deutsch are still with us. >> beautiful sunrise. >> it is beautiful. >> beautiful. >> beautiful friday morning. >> what's that in the background blinking? >> a chopper. >> another chopper. let's stay on this shot. this may get interesting. >> no. joining the table -- good lord -- "new york times" columnist gail collins. it's good to have you on board this morning. >> good to be here. it's friday. >> it is friday. >> yeah. >> nice silence. >> you know -- >> you know what alex just said to me? >> what's that? >> let's do
, locked down that nomination over the treasury. jack lew remains at the top of the list. and over at the cia, of the list. and the cia, that vacancy, john brennan, the counterterrorism adviser, and michael morrel, on the short list. so the president has key positions to fill. and could be doing it this week. >> while i'm focused on you, i can't help but notice the stunning background. >> reporter: it is beautiful. >> all right, following the president. >>> two teens take a chance on a frozen lake and are lucky to escape with their lives, thanks to a nearby tree. people are always asking me how we make these geico adverts. so we're taking you behind the scenes. this coffee cup, for example, is computer animated. it's not real. geico's customer satisfaction is quite real though. this computer-animated coffee tastes dreadful. geico. 15 minutes could save you 15 % or more on car insurance. someone get me a latte will ya, please? [ male announcer ] how do you make 70,000 trades a second... ♪ reach one customer at a time? ♪ or help doctors turn billions of bytes of shared informatio
general of the united states. we'll talk to you about if you're feelings of jack lew in a moment. on the deal that we did. you see everybody's taken the zeros off of what we owe and everybody's seen that now. i guess we're making $23,000 a year, we're spending $38,000. so we're adding $16,000 to our credit card bill every year. and we already owe $160,000 on our credit card bill. and the fiscal cliff deal cut $38 off of our expenses or something when you take everything off. is that -- >> actually worse than that. >> how can it be worse? >> actually our cliff bill was an absolute embarrassment to the united states of america. let me clarify. if we had gone over the cliff, it would have been an "f." and a total failure of our system. but when you analyze the bill, it was an "f" on spending. we actually increased spending. we didn't reduce 13e7bding. we increased spending. >> all the democrats tell me that there was already a trillion dollars of spending cuts that -- i didn't -- >> that was from august 2011. okay, but what i'm saying is, if you just look at this bill in isolation,
commonly is jack lew. but he's not a clear candidate yet at least. secretary geithner has been very instrumental in talking to the congress for the last couple years about the budget and about the debt ceiling. he was very involved in 2011. he's obviously been very involved the last couple of months. if he leaves, i think we could -- it really depends who takes over for him. but i think we're -- i think we're looking at a lot of big issues to face before march and so it's really going to come down to who that person is that takes over. >> yeah, certainly. have to talk a little bit of football because we always talk about the commercials and the super bowl and how much money they bring in. there are reports that it might have the ad sales looking a little less hot, sexy, if you will, this year. are you hearing anything about that? and if so, what's behind it? >> about ad sales? >> yeah. well, no. about the content of them. i mean, remember all the talk about how sexy they are and, look it, i mean, they are painting on naked bodies here and you have, you know, all that. i mean, is the
Search Results 0 to 25 of about 26 (some duplicates have been removed)

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